The token has dropped from $4.39 to $3.57 since it went live.

▪️EigenLayer his been hit by criticism after it was revealed that staking rewards received by early investors are not restricted by token lock-ups.

▪️The situation echoes Celestia's token launch, which was followed by a 75% plunge as investors could sell staking rewards.

▪️The EIGEN token initially rose to $4.39 and has since slumped by more than 20% to $3.57.

The price surged moments after it was listed on exchanges, leading to a price discovery period culminating in a 22% slide from its momentary record high.

But there appears to be a more serious issue brewing, with investors and community members complaining about a lack of transparency regarding token supply.

EIGEN's total supply is fixed at 1.68 billion and its circulating supply is 186 million. These figures give the asset a fully diluted value of $5.8 billion and a market cap, excluding tokens not in circulation, of $650 million. Show Less